Fairhaven Crossing Apartments, a 40-unit building, opened in March in north suburban Mundelein, Illinois.
The building is located 407 E. Hawley St. and includes one-, two- and three-bedroom units with affordable rents for households earning 60 percent or less of the area median income. The three-bedroom units account for half of the floor plans and 12 apartments were designed for individuals with disabilities.
The property is part of a broader initiative to redevelop downtown Mundelein into a mixed-use district. The $13.5 million affordable housing project involved converting and expanding a vacant brick building, previously a light industrial facility, into a three-story residential building. The project was funded using $5.6 million in low-income housing tax credit financing secured by Evergreen Real Estate Group.
Evergreen Real Estate Group, Lake County Residential Development Corp., the Lake County Center for Independent Living and Lake County United were involved with the project.
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